Reasons to get an appraisal from Astute Appraisals, Inc.
Each year, thousands of people in Maryland buy, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. Practically all lenders still call for a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation methods that might appear cheaper than an appraisal. Is getting a mortgage the only reason to get an appraisal? Are there more instances when the services of a licensed, independent real estate professional could be beneficial? Of course there are.
Contest your tax assessment
If you are in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Astute Appraisals, Inc. is your best evidence when building your case. We can assist you in disputing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, almost all lenders ask buyers to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this extra payment is folded into the monthly mortgage payment and is promptly forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
Astute Appraisals, Inc. can produce a statement regarding the value of your home, and the expense of the appraisal can generally be offset in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is a particularly traumatic event for the parties involved, and it is often even more complicated by the strenuous decision of who maintains the property. Regardless of the situation, it's a good idea to get an appraisal from Astute Appraisals, Inc. so both parties are completely aware of the true market value of their house.
The parties will have a better idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Fair and accurate estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike many wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Howard County through an employee relocation program
We understand the headaches involved with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home quickly — for the right price
A professional appraisal can help you make a better educated decision regarding your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they rest on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, getting a professional appraisal is a trusted way to decide what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.